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Post by novie08 on Jan 4, 2017 10:15:12 GMT -5
UVXY should be in 6s shortly. We'll see.
Hit another 52-wk. low. Thinking they may take it back up (mkts. down) just before the reverse split which I think is 1/12.
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Post by walnut on Jan 4, 2017 10:16:08 GMT -5
VXX now down around the area where contango was taking it several days ago. Could possibly still go lower as VIX index could drop .40 or .50 today
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Post by walnut on Jan 4, 2017 10:17:50 GMT -5
If VXX bounces any I might have to sell a little cause there is nothing beneath VIX but air
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Post by novie08 on Jan 4, 2017 10:19:53 GMT -5
Just read Fed minutes coming today at 2 PM EST. Could let a bit of air out of the markets if another int. rate raise is announced.
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Post by walnut on Jan 4, 2017 10:24:58 GMT -5
I forgot about that thanks Novie Just read Fed minutes coming today at 2 PM EST. Could let a bit of air out of the markets if another int. rate raise is announced.
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Post by theMist on Jan 4, 2017 10:30:31 GMT -5
As much as its in the blood for me to trade every day, sometimes its good to take profits and sit one out or play real small. Today is one of those days obviously because of morning gap down being a BREAKWAY GAP.
I'm up A LOT since shorting TVIX, UVXY from the 20s and I rode the spike on Friday back up and then switched to shorting again and just covered my UVXY at 7.32 this morning. If I miss a move further down, I'm okay with that BUT am waiting it out to see if this morning's BREAKWAY GAP gets filled. If it doesn't, then it will be a rinse and repeat of last 2 weeks. But I would DEFINITELY not be going long the SCAMs right now. If they miraculously rise UP this afternoon to fill the morning gap I will look to short. Also, can also gap down again tomorrow and form a RUNAWAY GAP or EXHAUSTION GAP and play out almost exactly like past 2 weeks.
GL Either way you play it. I just don't have any guaranteed moves today BUT my bias is still on the short side of VIX SCAMs for now.
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Post by novie08 on Jan 4, 2017 10:32:14 GMT -5
Gotta run...sitting out until Fed minutes and clearer direction. GL to all. And Huh, where are the fibs on those futures charts? Cannot locate them. Many thanks.
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Post by walnut on Jan 4, 2017 10:34:57 GMT -5
In our favor at the moment, the market is not crashing, and contango is high, it's pretty forgiving time to be shorting the scams IF you are prepared to ride a position over a few days so no big bets today
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Post by theMist on Jan 4, 2017 10:37:19 GMT -5
BTW - AWESOME TRADING Walnut. That was a really nice trade riding down VXX from yesterday's HOD down to today's nearly LOD. And you too Novie
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Post by walnut on Jan 4, 2017 10:37:49 GMT -5
I see there is a new member "LostVegas" so hello
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Post by theMist on Jan 4, 2017 10:40:31 GMT -5
Which is why its very, very tempting for me to chase shorting it again. If I do, it will be very small position.
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Post by theMist on Jan 4, 2017 10:41:55 GMT -5
I wonder if they're from the UVXY or TVIX Yahoo MSG Board. I've been telling others to come on over.
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Post by walnut on Jan 4, 2017 10:41:56 GMT -5
BTW - AWESOME TRADING Walnut. That was a really nice trade riding down VXX from yesterday's HOD down to today's nearly LOD. And you too Novie Thanks Robert I'm trying
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Post by Herceg on Jan 4, 2017 10:45:13 GMT -5
Just read Fed minutes coming today at 2 PM EST. Could let a bit of air out of the markets if another int. rate raise is announced. That helps explain why the mkt. is so indecisive today.............cannot figure on who to screw 1st...............
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Post by theMist on Jan 4, 2017 10:57:17 GMT -5
Another possibility if you like leaving a small short position on for VIX SCAMs -
Lets say you've allocated TOTAL 10k shares for VXX
Stay short say 3k shares at ALL TIMES and then trade aggressively with the remaining. That way you can take advantage of any spikes against you (short more) and can still capture downside moves all the time.
Kind of like what your doing now Walnut.
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Post by walnut on Jan 4, 2017 11:08:17 GMT -5
That's what I've been trying to get you to do, it works, I know you do it sometimes The aggressive daytrading part is what is new to me. I have had catastrophes daytrading the scams in the past, but I know what I did wrong at those times, I'm pledged to do it right in the future... Another possibility if you like leaving a small short position on for VIX SCAMs - Lets say you've allocated TOTAL 10k shares for VXX Stay short say 3k shares at ALL TIMES and then trade aggressively with the remaining. That way you can take advantage of any spikes against you (short more) and can still capture downside moves all the time. Kind of like what your doing now Walnut.
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Post by walnut on Jan 4, 2017 11:17:44 GMT -5
Trading volatility is about the only thing that really interests me anymore. I sold put call strangles on the ES for years but shorting the scams is better.
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Post by theMist on Jan 4, 2017 11:33:16 GMT -5
Me too walnut. Just took a small SHORT position on UVXY 6k. I still see more downside. Contango is also very high (13%) and I see S&P rising further.
Tomorrow could get another gap down and play out like last 2 weeks. Have to see how markets close today.
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Post by theMist on Jan 4, 2017 11:38:32 GMT -5
Today's GAP down in VIX SCAMs looks more and more like its going to remain a BREAKAWAY GAP unless we get some catastrophic News in the afternoon ( doubt it). lol
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Post by walnut on Jan 4, 2017 11:45:53 GMT -5
I can't hardly go short without a bounce, but I agree headed lower
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